Lodha for selling the properties of PACL and using the sale proceeds to refund the investors who have invested their money in PACL(hereinafter referred to as the ‘ Committee’).ģ. SEBI has accordingly constituted a committee under the chairmanship of Justice (Retd.) R.M. (hereinafter referred to as ‘ PACL’/ the ‘ Company’), so that the sale proceeds can be paid to the investors, who have invested their funds in the Company.Ģ. Justice R.M.Lodha, the former Chief Justice of India, for disposing of land purchased by PACL Ltd. Vide the said order, SEBI was inter alia directed to constitute a committee under the Chairmanship of Hon’ble Mr. Securities and Exchange Board of India (CA No. The Hon’ble Supreme Court of India (hereinafter referred to as the ‘ Court’) has passed an order dated Februin the matter of Subrata Bhattacharya V.
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